TechFlow News, October 18 — According to Cointelegraph, Crypto.com's Chief Legal Officer Nick Lundgren said recent rulings against the U.S. Securities and Exchange Commission (SEC) have provided a "strong legal foundation" for its lawsuit against the regulator. Crypto.com filed the lawsuit after receiving a Wells notice from the SEC, arguing that the agency’s actions constitute "unauthorized and unfair regulation." In recent years, the crypto industry has achieved several significant legal victories against the SEC. For example, Grayscale Investments won its case in August 2024, converting its Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin exchange-traded fund (ETF). Additionally, a July 2023 ruling determined that XRP is not a security when sold on digital asset exchanges. The Wells notice received by Crypto.com does not require it to cease operations in the U.S., and the company continues to serve customers across 49 states, with its headquarters located in Texas.
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